Credit Crisis

Having easy access to credit is considered to be very useful as it allows you to buy anything you want without the hassle of carrying around a lot of money. It also enables you to satisfy any current requirement despite the lack of money at that time.

So when you are out somewhere and you do not have instant cash available, you can always use your credit card to get a room in a hotel or to buy an airline ticket if you have to visit a dying aunt on a very short notice. This is why the use of credit cards has become extremely popular among the western nations. Moreover, traveling with a credit card can save you from a big loss in case you are unfortunate to get robbed.

Then again, what purposes can the credit card be useful for?
The options are unlimited and numerous. A credit card can help you with anything from reserving a hotel room to a place at the restaurant. You may also carry it along when you are shopping and you can buy as much you want to, not worrying about the cash available to you at that moment.
Moreover, keeping a credit card ready also means that you don’t have to go to the trouble of leaving your house to buy something. You can just sit on your couch, pick up a phone or use your laptop to go online, find the item you are looking for and pay for it using a credit card (https://www.lifeoncredit.ca/top-6-credit-cards-for-bad-credit-in-canada/). You’ll be delivered the product you asked for in a couple of days and you wouldn’t have left the safety of your house and the coziness of your couch to do so.
Credit cards not only provide you the convenience to shop and purchase, they also allow you to put aside some cash that you own in case of an emergency or an unexpected event. So, by using a credit card to make payments for everyday items, you are able to keep yourself a healthy emergency fund.

Furthermore, credit cards also offer rebates and concessions. Such rebates are gained by paying for day to day expenses like paying for the vehicle fuel, paying for food items for your house etc. through credit cards.
However, the usage of credit cards is not free of risks. People tend to get so caught up in the habit to use credit cards for purchases that they often get themselves into a disastrous situation of unpaid debt. The reason is that these people keep on buying expensive things on credit and do not care about the accumulating costs in the process. Therefore, you need to keep yourself in check while making payments using your credit card.

If you consider investing in junior or senior silver mining companies, you should have a good idea of what these companies offer with regard to risk and value. Those who plan to invest in senior minors can look at companies’ balance sheets and income statements to find out what these companies are worth. The situation is different with junior miners where buying silver stock requires looking at charts, the company’s properties, getting to know the management body, and so on. There is no way to predict whether a junior mining company will make a discovery in many cases. Some investors just rely on their intuition, but experts recommend gathering as much information as possible.

If the management body has done something worthwhile in the small mining sector or in exploration, one can get a feel as to how the company is run. Another factor that hints to professional management is whether it has previously found a profitable mine. With junior miners, investors also look at their cash flow and cash balance. Although some companies may have developed good projects, high burn rate means that they will have to close operations in a couple of months. This is a likely outcome if the management does not have access to additional financing. The management should be able to respond on the question of how long they can continue operations if things do not go according to plan. Another important issue is whether the property or project they develop has any potential. Naturally, there is not guarantee that the estimates you get will match the actual quantities. In fact, geologists, financial controllers, and the management alike will be keen on offering good estimates as to attract investors. While potential is one thing, especially on paper, exploration is not always feasible.

For instance, even if drill results look promising, the region may not be accessible, and the costs to build infrastructure may be too high. Senior mining companies are different in that. Senior miners are more experienced, larger mining companies that own and run existing mines. Given that their mining sites are already established, it is easier for investors to assess how well the miner is going to perform. This comes with fewer surprises and a degree of consistency when it comes to stock prices. Junior mining companies, on the other hand, have to identify different mining sites and explore their potential. Investors take risk because discovery is not guaranteed. This may be a costly initiative for junior mining sites and their investors. Many junior miners sell their sites to established mining companies to ensure better returns after they begin exploitation. If the company does not have money to open the mine, however, this is a sure sign of financial losses.

If you have landed in the dreaded pit then remember that you can dig your way out of it gradually, just like it took time for you to get surrounded by debt. Don’t panic and take a deep breath after which you can work on the following suggestions. 1. Firstly, admit that you have a […]

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